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Risk reshaped by war, climate, cyber: Experts - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk reshaped by war, climate, cyber: Experts by Claire Wilkinson Risk managers Staci Smith (left) of Utz Quality Foods and Jennifer Reno of FM appear at Rimsworld. Asbestos & Environmental , Cyber Risks , Emerging Risks , P/C Insurers , Political Risk , Technology FM May 6, 2026 PHILADELPHIA — Geopolitical conflicts, climate and cyber events are reshaping risk for manufacturers and embedding resilience across operations and supply chains is critical, two chief risk officers said Tuesday at the Risk & Insurance Management Society’s Riskworld conference. Supply chain risks are evolving rapidly and disruption is the new baseline, said Staci Smith, vice president of risk management at Utz Quality Foods. “Understanding your core business, not just your direct suppliers,” but dependencies across the entire supply chain is critical, she said. Staying on top of current trends and flagging potential issues is key, she said. “A good example recently is we were having a conversation about a component in the potato chip bag that is used in explosives. With the Iran war going on, we called this out as a potential issue,” Ms. Smith said. Risk professionals need to try to stay ahead of disruption and be prepared if situations arise, she said. Reputation risk is a growing concern as disruptions become more visible to customers and stakeholders, said Jennifer Reno, vice president, risk manager, finance at FM. “Most top of mind is reputation, really that damage to your reputation from the public,” she said. It’s important to learn from loss, Ms. Reno said. “Carrying that resilience through your business is really important and applying those lessons learned,” she said. Embedding risk into business decisions is a “gamechanger,” Ms. Smith said. Risk teams need “a seat at the table” to help the business understand risk and what they can do to mitigate risk, she said. “It empowers them to make more confident decisions,” she said. “Earning a seat at the table is so important. It really helps your leaders to make the appropriate decision for their risk appetite,” Ms. Reno said. Partnering across functions is critical. “It’s progress through partnership,” she said, adding that risk managers must influence decisions across the business. “The biggest part of our job is we have to influence without authority,” she said. Building a culture of prevention depends on employees raising concerns early and leadership supporting those discussions. “You’re not constantly addressing the forest fires,” but addressing issues before they escalate, Ms. Smith said. Utz’s risk team created a cross-functional group known internally as the “Avengers,” which brings together representatives from across the organization to evaluate risks and determine next steps, she said. “It gives that cross-functional awareness and also gives the executive leadership and the board comfort that when something happens we identify as a potential issue, we evaluate the risk and then we work to address it and make informed decisions whether it could be an HR issue, a supply chain issue or a contract issue,” she said. Prevention works when people escalate rather than allowing things to cascade, Ms. Reno said. “The proof is in the pudding. Are you looking at your near misses? Are you examining them to come up with some root cause fixes? Are you updating standards and revising training?” she said. Prevention depends on partnering across functions, including procurement, risk management, legal and human resources, she said. 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